Trial opens for defendants in transnational money laundering ring

May 15, 2024 - 20:32
The trial is scheduled to last for five days.

HÀ NỘI — The Hà Nội People’s Court on May 15 opened the first instance trial for 21 members of a transnational money laundering ring.

Among them, 14 were prosecuted by the municipal People's Procuracy for "fraudulent appropriation of property, and seven for "money laundering.” Many of them played important roles in the Jibian international crime ring.

Between September 27 and November 9, 2022, police arrested Mạc Bình Hưng and many others of the 777pay criminal group belonging to Jinbian Company headquartered in Cambodia.

The group provided bank accounts for fraudsters to instruct Nguyễn Thị L, 39, residing in Cầu Giấy District, to transfer money for them, with transactions worth nearly VNĐ20 billion (US$785,778) in total carried out from August 25-30, 2022. The woman reported the case to the Hà Nội police after recognising that she had been deceived.

The police also found that Phan Văn Minh, 46, in HCM City, laundered more than VNĐ10 billion transferred by 777pay.

The trial is scheduled to last for five days. — VNS